Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Meritage Hospitality Group Inc. operates in the quick-service and casual dining restaurant industries. The Company owns six independent restaurants operating under two concepts throughout Michigan, which include three Morning Belle restaurants and three Stan’s Tacos. It operates over 349 Wendy’s quick-service restaurants. It operates Wendy’s quick-service restaurants in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. The Company’s Taco John’s quick-service restaurant operates in Michigan. Wendy’s restaurant offers a diverse menu of food items featuring hamburgers and chicken sandwiches. Taco John’s menu includes meat and potato burritos, stuffed grilled tacos, quesadillas, signature Potato Oles, and crave worthy fried chicken tacos. Stan’s Tacos restaurants are located in Standale, Grand Rapids, and Grand Haven, Michigan.
MHGU - Meritage Hospitality Group Inc
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